I’m considering adding some FOMO (Fear Of Missing Out) tactics to my marketing efforts. I wonder if anyone knows what percentage of people shop due to FOMO? Like “limited stock” popups, countdowns, and things like that.
If you have used these tactics or know any FOMO stats about it, could you share your thoughts?
Thanks all!
Hey Amari! FOMO (Fear Of Missing Out) tactics can be incredibly powerful tools in marketing.
Research shows that a significant portion of consumers, around 60%, have made purchases driven by FOMO (Fear of Missing Out). This statistic highlights the power of FOMO in influencing buying decisions, particularly within a 24-hour window of encountering an offer.
Apart from this statistic about the exact percentage of people shopping due to FOMO, several studies solidify this idea by offering valuable insight into its impact. Let’s have a look;
Debt and Social Comparison: A significant number of young adults (nearly 40%, according to a study) have fallen into debt trying to keep up with the lifestyles portrayed on social media and online marketing, highlighting the fear of missing out.
Impulse Purchases on Social Media: Bankrate’s survey shows that 2 in 5 social media users make impulsive purchases due to FOMO triggered by their feeds.
Loyalty Programs and Scarcity: The surge in searches for loyalty programs suggests that people are drawn to exclusive deals and rewards, fearing missing out on potential savings (Google Internal Data).
The above FOMO statistics demonstrate the significant impact FOMO has on shopping behavior. So, how can you leverage this? By the way, it’s so true that limited stock popups and countdowns can be highly effective. Let’s jump into this in more detail:
Here is an example of limited time offer popup from Blume:
You can create such a popup for free with Popupsmart, I recommend you take a look.
Here are some tips for implementing FOMO tactics well:
->Focus on Value, Not Just Urgency: Don’t pressure customers solely on limited time. Highlight the product’s value and benefits they’ll miss out on.
->Avoid Manipulative Tactics: Don’t create fake scarcity or misleading countdowns, as this can damage trust with your customers.
->Balance Urgency with Positive Emotions: Frame your offers in an exciting way, like “Don’t miss out on this amazing opportunity!” instead of just focusing on scarcity.
By using FOMO tactics thoughtfully, you can encourage customers to take action without compromising trust or resorting to manipulation.
Hey! I recently came across a study that might add some interesting insights to your conversation about the power of FOMO - which stands for Fear of Missing Out - in marketing.
This research was conducted on Facebook ads and discovered that when ads contain a FOMO message, people tend to remember the ads better. In simple terms, people remember ads that make them feel like they’re missing out on something important or exciting. These can be ads about experiences, limited-time offers, special deals, or anything that stirs a sense of shortage or urgency.
It’s also important to note that FOMO tactics can appeal to millennials, who value experiences over material possessions but can also be effective across different age groups. For example, research shows that 69% of millennials feel FOMO, which motivates them to participate actively in events and experiences. Businesses that can tap into this emotion can increase engagement and accelerate consumer action, making FOMO a powerful tool in your marketing strategy.
Thanks for your insights!!
I agree that it is very important to focus on value and not just urgency. Also, the statistics that 60% of consumers shop because of FOMO is really powerful, but as u said strategies should be carefully crafted. Making the younger generation feel under pressure to spend unnecessarily is not a good thing, this statistic surprised me a bit 